Practice Exercises allowing is the trial balance of the Muscat Textile Company for the year ending 31 December 2019 Particulars Debit OMR Opening Inventory Credit OMR Buildings 40,000 Plant & Machinery 84.000 Debtors 160,000 Purchases 39,000 Cash at bank 90,000 Cash in hand 30,000 800 Export duty Paid up Capital 5.000 150,000 6% Debentures Retained profit as at 01.01.2019 200.000 11.500 Sales 230,000 Rent Received 1.200 Directors fee 4,000 Repair 2.400 Salaries 46,000 Insurance 4,100 Bad debts 1,000 Preliminary expenses 4.000 Interim dividend 9,000 Furniture & Fixture 90,000 General Reserve 10,000 Share Premium 9,500 Creditors 7,100 Bills payable 10.000 Investment 20,000 Total 629,300 629,300 The following additional information is also provided: 1) Create a reserve for bad debts @5% on debtors. 2) Provide depreciation on Plant and machinery at 10% and furniture at 5% 3) Directors have proposed final dividend of 5%. 4) Closing Inventory as on 31 December 2019 is valued at 94,000 Required: Prepare Statement of comprehensive income, Statement of financial position and changes in equity